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Kia Motors to Set Up First Plant in U.S.
AP ^ | Sunday March 12, 9:26 pm ET | Kelly Olsen,

Posted on 03/12/2006 6:39:56 PM PST by BenLurkin

SEOUL, South Korea (AP) -- Kia Motors Corp., South Korea's second-largest automaker, announced Monday it will set up an auto factory in the state of Georgia that will begin production in 2009 and employ 2,500 workers.

Kia said the $1.2 billion facility will be its first manufacturing plant in the United States. Georgia Gov. Sonny Perdue and President and CEO Euisun Chung made the announcement at a ceremony in Seoul.

Locations in Mississippi and Tennessee had also contended for the plant.

The facility is expected to produce 300,000 vehicles per year at maximum capacity, Kia said. Kia also said that five to six auto suppliers are expected to set up nearby, resulting in the creation of an additional 2,000 jobs.

The company, maker of the Optima midsize sedan, the small-size Picanto and Sorento SUV, is an affiliate of South Korea's largest carmaker, Hyundai Motor Co., which has a factory in Montgomery, Ala. West Point is about 80 miles southwest of Atlanta.

Proximity to the Hyundai site -- combined with a $258 million incentive package from the state -- helped sway Kia.

Kia, which last year exported three-fourths of its South Korean production, is pursuing an aggressive overseas expansion. Besides moving into the United States, it's building a second plant in China and expects its first European factory to start up in Slovakia at the end of the year.

"Kia Motors has entered an aggressive growth phase in the U.S," Chung said.

The company also supplies materials to partners for vehicle assembly in Malaysia, Indonesia, Vietnam, Russia and Iran. Kia sold 1.27 million vehicles in 2005, 13.9 percent more than the year before.

Georgia has been hit hard by decisions at Ford Motor Co. and General Motors Corp. to close their plants in the state.

Perdue said Kia's decision to locate in the state "is a testament to the tools, experience and know-how Georgia will deliver to one of the automotive industry's leading innovators."

In January Kia said net profit rose 2.9 percent in 2005.

Net profit increased to 680.9 billion won ($696.5 million) as revenue gained 4.6 percent to 16 trillion won ($16.4 billion).


TOPICS: Business/Economy; US: Georgia
KEYWORDS: automakers; kiamotors; manufacturing; southkorea
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1 posted on 03/12/2006 6:40:00 PM PST by BenLurkin
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To: BenLurkin
How dare Bush in source our auto manufacturing! I demand Congress do something to save us from these mad Koreans!!!
2 posted on 03/12/2006 6:41:20 PM PST by MNJohnnie (Are you not entertained? Are you NOT entertained? Is this not what you came here for?)
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To: BenLurkin

And I bet somewhere tonight there are union people trying to figure out how to unionize it.

Georgia, BTW, is a hire at will, fire at will state.


3 posted on 03/12/2006 6:42:37 PM PST by gondramB (Render unto Caesar that which is Caesar's and unto God that which is God's.)
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To: gondramB

Hey Economic Dinasours, Consider this a lesson in Economic Evolution in Action.


4 posted on 03/12/2006 6:44:06 PM PST by MNJohnnie (Are you not entertained? Are you NOT entertained? Is this not what you came here for?)
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To: BenLurkin
I only buy American made cars. That's why I drive a Nissan (made in Tennessee) by non-union workers. I refuse to drive anti-American cars like Fords, Chryslers, and GM. These cars are made by commie-union workers who are ordered to vote for commies by their union bosses.

Whenever I pass a Ford on the highway, I always say "There goes another John Kerry voter."

5 posted on 03/12/2006 6:46:57 PM PST by SamAdams76 (Venus is dazzling, but not very high, in the western sky)
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To: MNJohnnie; All

But who cares, it is not an American car factory...


6 posted on 03/12/2006 6:47:33 PM PST by KevinDavis (http://www.cafepress.com/spacefuture)
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To: SamAdams76; All

You sir are a free taitor.. /s


7 posted on 03/12/2006 6:48:24 PM PST by KevinDavis (http://www.cafepress.com/spacefuture)
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To: KevinDavis

What, do you think we should enslave the taters? :P


8 posted on 03/12/2006 6:49:29 PM PST by Constantine XIII
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To: KevinDavis

Yea, but, it's tax revenue back into the US economy, unless they just gave that land free to KAI.


9 posted on 03/12/2006 6:51:57 PM PST by Prophet in the wilderness (PSALM 53 : 1 The FOOL hath said in his heart , There is no GOD .)
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To: KevinDavis

Ford, Chrysler, GM...the employees in these companies are pro-union, socialist, Democratic liberal voters through and through. Anybody buying an automobile from these manufacturers might as well be casting votes for Al Gore, John Kerry and Ted Kennedy in my opinion.


10 posted on 03/12/2006 6:52:23 PM PST by SamAdams76 (Venus is dazzling, but not very high, in the western sky)
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To: SamAdams76; All

I agree.


11 posted on 03/12/2006 6:59:35 PM PST by KevinDavis (http://www.cafepress.com/spacefuture)
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To: Prophet in the wilderness; All

Sarcasm my friend...


12 posted on 03/12/2006 7:00:04 PM PST by KevinDavis (http://www.cafepress.com/spacefuture)
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To: BenLurkin
Lets see now, the U.S. was at war during the 50's with Korea so surely this would be a risk to security of the nation. They could after all install remote bombs in the engines. (sarc)


Haven't heard an uproar from those who opposed the ports deal yet.
13 posted on 03/12/2006 7:06:45 PM PST by AmeriBrit (AMERICA's WORST ENEMIES! http://media1.streamtoyou.com/rnc/0519RNCNo-1.wmv)
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To: Constantine XIII; KevinDavis


You caught the Tater!
14 posted on 03/12/2006 7:08:01 PM PST by Xenalyte (Numba one in tha hood, G!)
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To: Xenalyte

lol!


15 posted on 03/12/2006 7:12:04 PM PST by Constantine XIII
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To: BenLurkin

I still wouldn't buy one.


16 posted on 03/12/2006 7:13:16 PM PST by Retired Chemist
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To: MNJohnnie
My Grandson works in their plant in Ala. It's in Alexander City tho, not Montgomery. He started last August and loves it.
17 posted on 03/12/2006 7:14:08 PM PST by BARLF
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To: Constantine XIII

We should free the tator tots though..


18 posted on 03/12/2006 7:15:59 PM PST by sheik yerbouty ( Make America and the world a jihad free zone!)
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To: SamAdams76
I was born and raised in Michigan.
In a town that was cars and bars.
I hate unions.
There was a time when unions were needed to protect honest employees from dishonest mafia/slaver type employers, and a government who protected the richest criminals.
Now unions protect rich slavers/mafia types, along with the government, against honest workers and employers.
In the right to work states, the biggest, most powerfully unions are the government employees.
Duh.
19 posted on 03/12/2006 7:16:50 PM PST by sarasmom (I don't care who John Galt is, I just need his email address.)
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To: gondramB

"And I bet somewhere tonight there are union people trying to figure out how to unionize it.

Georgia, BTW, is a hire at will, fire at will state."

I'm not sure they are. The UAW has gotten its butt kicked so many times trying to organize Toyota, Nissan and Honda plants in this country, they may actually start seeing the writing on the wall.


20 posted on 03/12/2006 7:29:37 PM PST by BW2221
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